Court to Decide Whether $1000 Home Sale Was Permissable
THE SUPREME Court will decide whether a Victorian sheriff acted unconscionably when he sold a $630,000 Braybrook house for $1000 at a no-reserve auction.
In an extraordinary deal conducted at the Carlton sherrif’s office in December 2010, retailer Zhiping Zhou had his imposing near-new, six-bedroom home (pictured, right) sold to settle a $93,000 debt – reportedly accrued by another man Zhou had gone guarantor for, who is now based in China.
The court had directed the sheriff sell home be sold at a no-reserve auction after it failed to sell some years ago, Channel Seven reports.
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